Corporate Governance

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

Corporate Responsibility and The Two Minds of Milton Friedman

Milton Friedman had two inconsistent minds: That of an economist and an ideologue. The view that maximizing profits without constraint is a...

Wirecard Scandal: When All Lines of Defense Against Corporate Fraud Fail

Scandals such as Wirecard can destroy investor trust in capital markets working fairly and with integrity. A new policy brief commissioned by...

We Need More Research on Corporate Corruption

The last decade has seen a continuous drumbeat of revelations of corporate corruption and the current economic crisis is sure to reveal...

The Social Voice of CEOs

A new working paper examines the phenomenon of CEO activism and finds that while statements by activist CEOs are more likely to...

Does a CEO Have a Duty to Lobby?

We need not only more disclosure, but also more work in alerting people in general (and students in particular) about the distortive effects of...

Should Whistleblower Reward Laws be Capped?

The SEC is expected to approve a proposed rule change that could limit the amount of awards paid to whistleblowers, despite evidence...

How Hedge Fund Performance Fees Fail Investors

In the hedge fund industry, there is a material disconnect between funds’ lifetime performance and lifetime incentive fees for managers. A new...

Do People Think Finance Benefits Society?

A new paper seeks to measure popular sentiment toward finance based on mentions of “finance” in millions of books, spanning eight languages...

Call for Papers: Should Corporations Have a Social Purpose?

The Stigler Center is launching its fourth Political Economy of Finance conference and seeking papers on topics related to corporate social responsibility,...

Latest news

President-Elect Joe Biden and the Real Lessons of DuPont

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to...

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

How Pfizer’s Vaccine Announcement Demonstrates the Political Power of Firms

By timing the disclosure of the results of its vaccine trial, Pfizer could have influenced the 2020 presidential election. This is worrisome...

The Useful Distraction of Section 230

How the red-herring of a politicized Section 230 and “conservative censorship” distracts from a bipartisan national privacy act.

Institution Man: How Corporations Came to Dominate the US Economy

In the first chapter of his book Transaction Man, Nicholas Lemann explores how Adolf Berle, author of The Modern Corporation and Private...

Kicking Around Section 230: Don’t Confuse Politics and Policymaking

Congressional hearings may make for good TV and viral social media posts, but reforming Section 230 would be more difficult than it...

Big Tech Platforms and Schumpeter’s Creative Destruction

Schumpeter’s indirect entry theory fits the average tendencies of competition in digital industries. When the model is added to standard assumptions and...